As the economy in Singapore continues to open up, companies are beginning to look at newer ways of streamlining their product offerings. With the adoption of newer technologies, and the need to be more efficient and deliver more with less, here we will look at how companies are turning towards application modernization in Singapore, for the best practices, benefits, and more.
Application modernization is the process of re-engineering your applications to take advantage of modern technology platforms and techniques. It includes activities such as improving the core software architecture, enhancing the user experience, consolidating and migrating to a new platform, as well as taking advantage of the latest technologies/tools.
Application modernization, also known as rejuvenation, is all about redeveloping or revamping your existing business applications by making them compliant to the latest technology. It is essentially a cost-effective option for businesses to update their systems and make sure that they are performing at their optimum potential. Application modernization in Singapore and the best practices associated with it, can transform businesses and industries for a better tomorrow.
Application modernization in Singapore
A survey done among global and APAC countries including Singapore, highlighted the major reasons why businesses are increasingly looking to modernize their applications. Application modernization is largely driven by the need for reliability, scalability and security, for most businesses in the survey. Cost reduction was also cited as a major driver of modernization efforts. The survey also showed that the APAC region focused on a cloud-based CI/CD model, as its main definition for application modernization.
Improving security is a top priority for businesses in APAC, who also prioritize increased scalability and customer satisfaction. Businesses largely are tending towards container-based, cloud-hosted micro-services for their applications. While there can be variation in how and when companies migrate their legacy applications to the cloud, there are often similar needs and desires within regions. This can make it helpful for businesses to learn from each other about best practices for migrating to the cloud.
It is important to clearly define the goals and objectives of the modernization project. A comprehensive assessment of the existing application should also be undertaken in order to identify areas for improvement. A robust modernization strategy should be developed, taking into account the latest technologies, trends and practices. It is imperative that the modernization project should be carefully planned and executed, with regular monitoring and feedback to ensure success.
Benefits of application modernization
Application modernization can help businesses to realize many benefits. It is bringing legacy applications up to date with current technology, processes and practices. It is a process that many organizations are going through in order to improve their overall performance and to save costs as well. There are many reasons for companies to modernize their applications and the benefits of it are immense. These include –
Increases Productivity – Outdated applications can really slow things down and be a source of efficiency bottlenecks. This can be helped by modernizing them, which would also help with increased operational efficiency and employee productivity. In addition, modernisation provides for improved and quicker system performance making processes simpler to work with, for employees.
Optimizes Agility – Updating your applications often has a lot of benefits for companies, like being able to change things more quickly to respond to customer needs, trying out new business ideas, and improving return on investment. But when you rely on old systems that don’t work well, it causes problems that waste employees’ time and gets in the way of being able to move quickly and grow.
Enhances Turn-Around-Time – The use of legacy applications or software hinders the overall Turn-Around-Time or time-to-market. It is a challenge faced by many companies. However, they can overcome this challenge by modernizing their old systems. Modernization has several benefits such as less time-to-market, high-quality products, cost reduction, scalability, and so on. By modernizing legacy applications, companies can impress their customers, boost profits, and build sustainable businesses.
Improves Security – It’s more important than ever for businesses to prioritize cyber-security. One way to do this is by modernizing your security system. This will allow you to take advantage of the most current security technology and solutions available. By staying up-to-date with the latest security measures, you can help protect your company on every front.
Reduces Cost – Legacy applications can be complicated to update and scale, which often demand higher cost and investments. Even the maintenance of these older applications can command additional efforts and cost. Application modernization on the other hand, provides a cost-effective and better alternative.
Best practices for application modernization
In-depth knowledge of your application: The first step to modernizing your applications is understanding them. You need to know how each one performs in its current environment, how it operates under different conditions, and how it integrates with other systems. This understanding will help you make informed decisions and develop individual modernization roadmaps. At Niveus, our engineers gain in-depth understanding of the application, its architecture, and its nuances to help the businesses make informed decisions on the options available.
Comparative analysis and prioritization: Before migrating, compare the pros and cons of modernizing the applications in question. Prioritize the apps that need to be modernized, followed by those that can be modernized later. Also, identify and understand the risks of each modernization approach and what would work best for it. Then, figure out the time and cost of each modernization process and what benefits you’ll get from it in terms of agility, scalability, reliability, and performance.
Consider all avenues: When it comes to modernizing applications, it’s not just a matter of using new technologies. You also need to change the way you think about them. There are various ways to modernize an application, so you need to figure out which one will work best for your business. The decision depends on factors such as the complexity of your legacy application and the level of modernization you want to achieve. You can either rehost, re-platform, or refactor your application.
Map your data : Migrating legacy applications to the cloud can be a daunting task, especially when you consider all of the data that these applications carry. Most legacy applications have huge amounts of data, much of which is too old or irrelevant to be useful in the modern world. That’s why it’s so important to carefully plan your data migration. You need to document how data is represented in the old system, understand how it needs to be migrated, and determine what testing needs to be done to ensure that the data is accurate, relevant, consistent, and up-to-date. By taking the time to do this planning upfront, you can avoid some major headaches down the road.
Manage user friction: When it comes to the applications we use to do our work every day, we can get pretty comfortable with how they operate. That’s why, before you start the modernization process, it’s important to communicate why the update is necessary and how users will benefit from the transformation. Additionally, be sure to document all planned changes and include helpful tips on how to use the new system for optimal results.
Double down on security: One of the main issues with older applications is that they don’t have great security measures, which can cause big problems for an organization if it’s not dealt with. It’s important to build security into every part of the modernization process so that you can avoid any potential threats. Use the best security tools available to assess the weak points in your legacy system and address them sooner rather than later. Encrypting data and implementing measures to control access can help keep your business safe.
Application modernization case studies with Niveus
Here’s how some of our clients benefitted from our application modernization solutions –
- We accelerated the loan application process for a leading housing finance organization with an instant services platform, facilitating loan disbursement of over US $200M
- We transformed customer experience for a major health and cosmetics brand, pivoting them from a hyperlocal presence to an omnichannel strategy in the middle of Covid
- We delivered app-based telematic monitoring and personalized services elevating the connected vehicles service for a multinational automotive manufacturer
- We built a tele-medicine platform for a US-based healthcare organization, delivering AI-powered preliminary diagnostics and workflow-based doctor-patient consultations
In Singapore, application modernization is seen as a key way to improve the efficiency and competitiveness of businesses. In order to realize the benefits of application modernization, businesses in Singapore need to be aware of the best practices and adopt a sound modernization strategy. By doing so, they can stay ahead of the competition and reap the rewards of a more efficient and effective business operation. To know more about how we could bring about transformational impact for your business, please email us at biz@niveussolutions.com
